Abbott Laboratories (NYSE:ABT) EVP Daniel Gesua Sive Salvadori Sells 7,269 Shares

Abbott Laboratories (NYSE:ABT) EVP Daniel Gesua Sive Salvadori sold 7,269 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $82.00, for a total value of $596,058.00. Following the completion of the sale, the executive vice president now owns 99,479 shares of the company’s stock, valued at approximately $8,157,278. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Daniel Gesua Sive Salvadori also recently made the following trade(s):

  • On Thursday, June 13th, Daniel Gesua Sive Salvadori sold 10,600 shares of Abbott Laboratories stock. The shares were sold at an average price of $82.00, for a total value of $869,200.00.

Shares of Abbott Laboratories stock traded up $0.11 during mid-day trading on Friday, reaching $82.41. 3,048,009 shares of the stock traded hands, compared to its average volume of 4,614,819. Abbott Laboratories has a fifty-two week low of $60.31 and a fifty-two week high of $82.33. The stock has a market capitalization of $144.57 billion, a P/E ratio of 28.61, a PEG ratio of 2.31 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.58 and a quick ratio of 1.13.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $7.54 billion during the quarter, compared to analyst estimates of $7.49 billion. Abbott Laboratories had a return on equity of 16.86% and a net margin of 8.53%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share. As a group, research analysts anticipate that Abbott Laboratories will post 3.22 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.32. Abbott Laboratories’s dividend payout ratio is 44.44%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Belpointe Asset Management LLC raised its stake in Abbott Laboratories by 18.2% in the first quarter. Belpointe Asset Management LLC now owns 29,300 shares of the healthcare product maker’s stock valued at $2,343,000 after buying an additional 4,502 shares in the last quarter. Altfest L J & Co. Inc. purchased a new position in shares of Abbott Laboratories during the first quarter worth about $733,000. Meridian Wealth Management LLC grew its holdings in shares of Abbott Laboratories by 7.5% during the first quarter. Meridian Wealth Management LLC now owns 6,326 shares of the healthcare product maker’s stock worth $506,000 after buying an additional 441 shares during the last quarter. Princeton Global Asset Management LLC grew its holdings in shares of Abbott Laboratories by 22.8% during the first quarter. Princeton Global Asset Management LLC now owns 4,450 shares of the healthcare product maker’s stock worth $355,000 after buying an additional 825 shares during the last quarter. Finally, Lowe Brockenbrough & Co. Inc. boosted its holdings in Abbott Laboratories by 2.5% in the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 62,003 shares of the healthcare product maker’s stock valued at $4,956,000 after purchasing an additional 1,514 shares in the last quarter. Institutional investors and hedge funds own 73.42% of the company’s stock.

A number of equities analysts recently commented on ABT shares. Bank of America restated a “buy” rating and set a $81.00 target price on shares of Abbott Laboratories in a report on Thursday. Wells Fargo & Co increased their target price on Abbott Laboratories from $89.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a research note on Friday, June 7th. Royal Bank of Canada upped their price target on Abbott Laboratories to $82.00 and gave the company a “buy” rating in a report on Monday, April 15th. They noted that the move was a valuation call. Finally, Barclays set a $84.00 price target on Abbott Laboratories and gave the company a “buy” rating in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company. Abbott Laboratories currently has an average rating of “Buy” and an average target price of $80.89.

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Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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